Topic: 2007 Credit Crunch

An investigation into Wachovia Bank, now owned by Wells Fargo, reveals the laundering of $378 billion for Mexican drug cartels through Casas de Cambio. The discussion posits that the 2007 global credit crunch was triggered when Wachovia was forced to cut ties with these entities, removing a massive source of liquid drug money from the banking system. The bank eventually paid a $110 million fine, which the hosts describe as a fraction of their profits.